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Gold Recovers

Gold recovered to $1,840 late Monday, December 14, after correcting late last week following a series of anemic inflation reports and delays in the Congressional relief packages. The Consumer Price Index and Producer Price Index were each up only slightly, leading investors to think that the trillions in newly printed deficit dollars won’t fuel inflation, but that is only due to recent economic lockdowns and COVID fears. Once the economy opens up, we are likely to see sharply rising inflation.

Gold Gained 2% on Tuesday

Gold gained $36 (2%) on Tuesday, December 1, as a new “stimulus package” works its way through Congress. This came after gold fell by a similar amount last Friday in its first fall under $1,800 since last July. Part of the drop was technical, since many traders set “stop losses” under technical support levels like the 200-day moving average.  Since the drop happened on thin volume in the early morning hours of a post-holiday trading session with few traders present, the move was steep, and unsupported by buyers.

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George H.W. Bush Coins Launch the “Roaring 20s” Coin Rush Next Week

We have been writing about the new “Roaring 20s” increase in new gold and silver coins to be designed and minted in the 2020s, including a new design on the reverse of the American Eagle gold and silver coins next year – the first change in 35 years, since their inauguration in 1986. We’ll probably also see silver dollar coins commemorating the centennial of the transition year for the two classic silver dollars produced in 1921, which was the final year of the Morgan silver dollar and the first year of the Peace silver dollar.  That will surely excite the coin buying public!

 

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